ClearPoint Neuro, Inc. (NASDAQ:CLPT) Sees Significant Increase in Short Interest

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 759,900 shares, an increase of 10.5% from the October 31st total of 687,600 shares. Based on an average daily trading volume, of 209,700 shares, the short-interest ratio is currently 3.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLPT. Barclays PLC lifted its holdings in ClearPoint Neuro by 24.3% in the third quarter. Barclays PLC now owns 5,674 shares of the company’s stock valued at $64,000 after acquiring an additional 1,109 shares during the last quarter. Essex Investment Management Co. LLC grew its position in ClearPoint Neuro by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 463,853 shares of the company’s stock valued at $5,200,000 after acquiring an additional 1,267 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of ClearPoint Neuro by 11.6% in the second quarter. XTX Topco Ltd now owns 13,010 shares of the company’s stock valued at $70,000 after purchasing an additional 1,353 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in ClearPoint Neuro by 7.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,867 shares of the company’s stock worth $170,000 after buying an additional 1,813 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in ClearPoint Neuro by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 287,294 shares of the company’s stock valued at $3,222,000 after buying an additional 4,170 shares during the period. 30.08% of the stock is currently owned by institutional investors and hedge funds.

ClearPoint Neuro Price Performance

ClearPoint Neuro stock traded up $0.25 during midday trading on Wednesday, reaching $12.25. The company had a trading volume of 18,410 shares, compared to its average volume of 186,844. ClearPoint Neuro has a 12-month low of $5.11 and a 12-month high of $14.13. The firm’s fifty day simple moving average is $11.93 and its 200-day simple moving average is $9.52. The company has a market capitalization of $337.86 million, a P/E ratio of -17.39 and a beta of 1.08.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital lifted their price objective on shares of ClearPoint Neuro from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.